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An Idea A Day by David Thompson

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COST CUTTING

MAKE SURE YOU’RE NOT INADVERTENTLY INCREASING COSTS!

Anne Hawkins

HOW INTEGRATED IS the management of your business? Do you have ‘joined up’ thinking by your management team? Or are metrics (or measures of performance) departmentalised with scant regard as to whether great performance in one area has struck a blow elsewhere?

You get what you measure—so make sure it’s what you want.

The idea

Look carefully at proposals to improve costs as not all of them will have the desired effect.

Purchasing savings

Keep your purchasing staff close to their customers—that is, everyone else in the business. Be cautious of making price savings ...

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